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'Customary Operations' or A Vacant Building?
Many times, courts are faced with the question of whether a loss location is 'vacant' under a commercial property policy when trying to determine if the building owner or lessee is conducting customary operations. This article explores various decisions across the United States as to what is considered 'customary operations,' thereby rendering the property 'vacant.'
The Policy Provision
Most standard commercial property insurance policies provide coverage for direct physical loss of or damage to Covered Property at the premises described in the Declarations caused by or resulting from a Covered Cause of Loss. While those policies typically cover losses resulting from theft and/or vandalism, coverage is usually precluded by the vacancy provision. A typical vacancy provision is:
d. We will not pay for any loss or damage caused by any of the following, even if they are Covered Causes of Loss, if the building where loss or damage occurs has been 'vacant' for more than 60 consecutive days before that loss or damage occurs:
(1) Vandalism;
* * * *
(5) 'Theft'; or
(6) Attempted 'theft.'
* * * *
'Vacant' is often defined to mean:
(2) When this policy is issued to the owner or general lessee of a building, building means the entire building. Such building is vacant unless at least 31% of its total square footage is:
(a) Rented to a lessee or sub-lessee and used by the lessee or sub-lessee to conduct its
customary operations; or
(b) Used by the building owner to conduct customary operations.
Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Removing Restrictive Covenants In New York
In Rockwell v. Despart, the New York Supreme Court, Third Department, recently revisited a recurring question: When may a landowner seek judicial removal of a covenant restricting use of her land?